According to the Pakistan Bureau of Statistics (PBS) report, total exports of knitwear increased by 15.4 percent to $1.32 billion from July to August 2022; cotton fabric increased by 4.2 percent to $580.5 million, and readymade garments increased by 5.9 percent to $911.5 million over the same period last year.
Towel exports dropped 1.7 percent to $237.3 million, bedwear exports declined 2.9 percent to $780 million, and cotton yarn sales fell 18 percent.
Compared to $1.57 billion in August 2022 and $1.49 billion in September 2021, the textile group’s exports in September 2022 were $1.53 billion. Its exports decreased by 3% from the previous month and rose by 2.7% from the exports of the preceding month.
Towel sales increased 16.3% to $87.3 million, bedwear sales rose 3.5% to $258 million, and cotton cloth exports rose 3.9% to $203 million in September. Likewise, knitwear exports fell 3.0% to $436.4 million, ready-made garment sales dropped 16.0% to $277 million, and cotton yarn exports fell 15.0% to $75.8 million from the previous month.
Similarly, compared to the same month last year, exports of cotton cloth increased by 7.3%, knitwear by 12.5%, towels by 8.2%, and ready-to-wear clothing by 0.25 percent. However, bedwear exports decreased by 2.8 percent over September 2021, while cotton yarn exports fell by 20.4 percent.
As a result of strong foreign demand, the textile sector’s exports increased during Q1 of FY22 compared to the prior fiscal year reaching a record-high $19.35 billion.
Over three months, exports of sporting goods rose by 31.2 percent to $102.2 million over the same period in the previous year, and in September 2022, they rose by 11.3 percent to $38.4 million over the previous month.
Exports of food products rose by 5.7 percent in the first quarter to $1.08 billion from $1.02 billion during the same period last year. But of this, exports of rice fell by 5.1 percent to $401.6 million, with basmati exports falling by 15.5 percent to $130 million.
The economy imported 29.2% less machinery in September 2022. Compared to $668.4 million in August 2022, it was $473 million at that time. In comparison to September 2021’s $981.7 million in imports, its imports during the reviewed month fell by 51.8 percent.
Imports of textile machinery were $52.5 million, a decrease of 6% from the prior month and a rise of 39.2% from the same month a year earlier.
Imports of machinery for power generation increased by 3.2 percent to $54.6 million from the previous month, while YoY imports fell by 70.3 percent.
Imports of machinery for the telecom industry decreased by 22.4 percent from the previous month and by 70.9 percent from the previous month. Similarly, imports of electrical machinery fell by 33.4 percent over the prior month and by 52 percent over the preceding month.
Noteworthy is the fact that Pakistan’s overall exports in September 2022 were $2.446 billion, down from $2.482 billion in August 2022 and a 1.45% reduction. However, compared to $2.409 billion in September 2021, exports climbed by 1.54 percent.
Exports totaled $7.179 billion from July to September 2022 compared to $6.996 billion during the same period the previous year, a rise of 2.62 percent.
Imports decreased by 11.93 percent in September 2022 to $5.347 billion from $6.071 billion in August 2022. When compared to $6.563 billion in September 2021, it fell by 18.53 percent.
Imports totaled $16.40 billion in three months, compared to $18.715 billion in the same time last year, a 12.37 percent decrease.